King Salman bin Abdulaziz attended the ground-breaking ceremony of the 300 MW Sakaka PV IPP -- the first renewable energy project under King Salman Renewable Energy Initiative, the project's master developer ACWA Power said.
The ceremony saw the distinguished attendance of Crown Prince Mohammed bin Salman.
Commenting on the occasion, Mohammad Abunayyan, Chairman of ACWA Power, said: "Today... King Salman bin Abdulaziz graciously grants us the starting signal to commence the construction and operation of Sakaka PV IPP. The project is marked as the first project under the progressive initiative to benefit from renewable energy in the Kingdom.”
He added that the project “is set at a world record-breaking tariff that will transform the photovoltaic solar energy sector across the globe.”
ACWA Power announced last week the financial closure of the SAR 1.2 billion project. The company is the leading developer, owner, and operator. The commercial operation date of the plant is expected to be next year.
On completion, the 300 MW Sakaka PV IPP will supply 45,000 households with power, while offsetting over 430,000 tonnes of carbon dioxide a year
The project will also create new employment opportunities in fields including construction and operations.
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